Data Vantage | Asia Healthcare, NextBillion.ai and Qoala report funding updates
Edition #176, 24 May 2022
Dear Reader,
South Asian single-specialty healthcare platform Asia Healthcare Holdings (AHH) received $162.8 million from Singapore sovereign wealth fund GIC Pte last week, show regulatory filings.
The capital injection is part of a $170 million round announced by the TPG-backed firm in February this year.
AHH allotted new preference shares to a GIC subsidiary at $1.45 apiece. The investment gives the Singapore wealth fund an over 40% stake in the firm.
AHH also appointed GIC PE vice president Cynthia Lau to its board last week.
The healthcare platform has invested around $200 million across single-specialty healthcare enterprises in oncology, mother and childcare, and fertility.
AHH’s financial performance
Source: DATA VANTAGE
Spatial data and mapping platform NextBillion.ai on Monday announced raising $21 million in a Series B funding round. The financing was led by Mirae Asset and backed by Lightspeed India, Microsoft’s venture arm M12 and Alpha Wave Global.
NextBillion.ai’s regulatory filings show that the round comprised $18.75 million in fresh equity funding, with lead investor Mirae Asset contributing $15 million. The round also includes the allotment of Series B shares to convertible noteholders and share sales by early investors.
In May last year, the Singapore-based company had raised $6.25 million in extended Series A funding round from Microsoft’s M12.
Other updates from DATA VANTAGE
Hotel operating system provider Zuzu Hospitality allotted Series B shares worth $13.36 million to convertible noteholders last week, according to its regulatory filings.
Jakarta-based omnichannel insurtech company Qoala bagged $27.7 million last week as part of a recently announced Series B round. Lead investor Eurazeo pumped in $22.8 million in the round.
Indian food delivery startup Freshtohome secured nearly $27 million from Iron Pillar, Raed Ventures and Investcorp last week, according to regulatory filings.
Rario, a digital collectibles marketplace for cricket non-fungible tokens (NFT) received $20 million from Alpha Wave Global last week. It had received $61.3 million in the previous week as part of the same round.
The Parentinc, a community and commerce platform targeted at parents, received another $2.5 million from Central Retail last week. It has thus far secured $8 million in equity funding as part of a $22 million round announced in April.
Vietnamese menswear brand Coolmate secured $500,00o last week from Do Ventures as part of a $2 million Series A round.
Singapore-based co-living company Hmlet allotted shares worth $9.5 million to investors including Burda Principal Investments, Sequoia Capital India and InnoVen Capital last week ahead of its impending merger with European peer Habyt.
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